3 Ways To Control Your Spending This Holiday Season

So you may have been getting caught up with holiday shopping already. With Halloween on the horizon and the domino effect of holidays just after, it is a good idea to make sure your finances are where they need to be. Before they domino effect out of control be sure to get your spending under control.

How do you get your spending under control? Here are some helpful ways:

First, come up with a budget. This may sound foreign to you, but unless you want your credit to be hurting like you wallet as bad as it does after the holidays, be sure to get it under control before the buying even starts. Having a budget is like having a game plan. You have a mission now to meet these requirements.

Another way to keep your spending under control as we enter this holiday season is to not do something. This something is important enough that you need to not do it so much that it makes the list! Do not apply for a store credit card at each and every store you shop at--even if the reward benefits next to it are so tempting. Do not do it. Find out here what a credit score is and how you are affected by the financial actions you do: http://www.secondchancefinancialinc.com/uncategorized/what-is-a-credit-score/.

Next on your to do list should be to save money. Save money now for your budget that you have coming up for the holidays. If you already have saved up an emergency fund then you know that that is only, solely for emergencies like the loss of a job. Well, Christmas is not an emergency. You know it is coming. Each and every year it comes. Plan for it. Save for it.

With these guidelines you should be able to do well for yourself this holiday season. You should be able to make it to January without too many financial scars. Buy gifts with cash or debit. Do not spend money you do not have. That is a problem that people can be numb to. By planning ahead, not opening all new kinds of store accounts, and by saving for the holidays you will be able to make it through to the new year just fine.

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Tips to Boost Your Credit Score

Your credit score is simply your financial reputation. It gives lenders and others a tool to decide whether to do business with you or not. So, it is must to have a clear and good credit score. Even if you have a poor credit score, work on repairing it. A well thought of credit score repair firm will do this for you. After repairing your credit score, follow the guidelines below to maintain it:

Pay bills on time

This is one of the best ways to improve your credit score. It works well, because lenders are informed that you take debts seriously as much as a history of paying promptly. Every lender wants to be paid in full and on time. Most experts think that up to 35% of your credit score is based on your paying of bills on time.

Avoid excessive credit

If you have huge debts, you are a higher credit risk as you’re close to overextending your credit. This simply shows the lender that you may be taking more credit than you can comfortably pay off. The higher your debts the greater your monthly debt payments, also research has shown that those with high debt loads have the hardest time financially when faced with crisis such as health issues, unemployment etc…

Have a range of credit types

The type of credit you have also calculates into your credit score. In general, lenders like to see that you can handle a range of credit types as well. Having personal credit such as credit cards, mortgage or auto loan and paying them off regularly is better rather than having only one type of credit.

Follow the above and maintain a good credit score. Remember, a good credit score will help you save money with cheaper interest rates on loans and make your life much easier.

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